New Delhi: Billionaire Gautam Adani’s non-banking financial services firm Adani Capital is reportedly in talks with three private equity firms to buy the company, media reports said.
An Economic Times report last week said that three private equity groups – Bain Capital, Carlyle Group and Cerberus Capital Management – are in the race to make binding bids for Gautam Adani’s ten-year-old shadow bank. However as per the latest report published today in ET, the paper has said that Ben may be the frontrunner to buy Adani Capital for Rs 1500 crore.
Adani Capital buyout: 10 key points you need to know
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Billionaire Gautam Adani-led Adani Group is looking to sell its non-core operations to focus on its niche markets.
The above PE firms intend to make a complete buyout of the NBFC, which is run by CEO Gaurav Gupta and holds 10% stake in it.
The promoter owns the remaining 90%.
Earlier, a spokesperson of Adani Company had told The Hindu Business Line that Adani Funding is seeking additional expansion funding from foreign strategic and financial investors.
– The Economic Times had earlier reported that the promoters may opt to retain a small portion of the proceeds
ET had said that the Adani Group is expecting a valuation of Rs 2,000 crore, or about 2-2.5 times book value.
In April 2017, Adani Capital commenced its lending activities.
It has assets under management of Rs 4,000 crore and an estimated book value of Rs 800 crore.
The company’s operations can be broadly divided into retail, rural and wholesale lending.
According to multiple sources, Adani Group promoters are diluting their ownership interests in group companies through a combination of primary and secondary share sales as they believe that, given the murky global investment climate, cash reserves Promotion is the smartest move. Work.